Thursday, November 8, 2012

The shares of Apple Inc.(NASDAQ:AAPL) fell
along with many other stocks in yesterday’s selloff in the market.

The stock had touched an all time high
of $705.07 the day the iPhone 5 was available for sale. It has fallen 20 percent since then.

This is happening at a time when the
Cupertino based company is preparing newly launched products like the iPad Mini
for sale. It has already warned that the
cost of manufacturing these high tech gadgets will affect profits.

The market capitalization of the world’s
most valuable company is now $548 billion.
Exxon Mobil, the oil company follows with $418 billion.

Dynegy Inc.(NYSE:DYN) has reported its
results for the third quarter. The
growth in the gas business has made up for the fall in the coal segment,
thereby reducing loss.

Dynegy produces power which it sells
through the wholesale market. Low
electricity prices have been affecting the company’s performance.

For this quarter, the power producer
made a loss of $41 million, significantly lower than the negative earnings of
$129 million it had earned in the same period last year. The earnings per share were not released this
quarter but will be announced from the fourth quarter onwards, because of fresh
start accounting. The company had come
out from bankruptcy protection only in October.

The operating income of the gas business
was $52 million, compared to $28 million last year. On the other hand, the coals segment incurred
an operating loss of $53 million compared to the income of $12 million it
earned in the prior year period.

While many of Dynegy’s subsidiaries had
filed for bankruptcy in November last year, the parent had done so in July,
later merging with one of its subsidiaries.